Bokf Na Has $384,000 Stock Position in International Paper Company $IP

Key Points

• Bokf Na cut its International Paper stake by 86% in the fourth quarter, ending with 9,755 shares worth about $384,000.
• Insider buying picked up: directors Anders Gustafsson and Scott Tozier purchased shares, and insiders bought 36,092 shares worth about $1.31 million over the last 90 days.
• Analysts remain mixed but generally constructive, with an average rating of “Moderate Buy” and an average price target of $43.73, even as several firms trimmed their targets after International Paper’s recent earnings miss.

Bokf Na reduced its stake in International Paper Company (NYSE:IP - Free Report) by 86.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,755 shares of the basic materials company's stock after selling 59,995 shares during the quarter. Bokf Na's holdings in International Paper were worth $384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Private Wealth Advisors LLC lifted its stake in International Paper by 4.1% in the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company's stock valued at $243,000 after buying an additional 243 shares during the period. Evergreen Capital Management LLC lifted its stake in International Paper by 1.7% in the third quarter. Evergreen Capital Management LLC now owns 15,856 shares of the basic materials company's stock valued at $736,000 after buying an additional 263 shares during the period. Horizon Investments LLC lifted its stake in International Paper by 3.3% in the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock valued at $333,000 after buying an additional 267 shares during the period. Rafferty Asset Management LLC lifted its stake in International Paper by 0.6% in the third quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company's stock valued at $2,088,000 after buying an additional 268 shares during the period. Finally, Ballentine Partners LLC lifted its stake in International Paper by 5.2% in the third quarter. Ballentine Partners LLC now owns 5,450 shares of the basic materials company's stock valued at $253,000 after buying an additional 271 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Anders Gustafsson bought 13,217 shares of the stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares of the company's stock, valued at $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Tozier bought 10,000 shares of the stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares of the company's stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 36,092 shares of company stock worth $1,313,064 over the last ninety days. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup dropped their price target on International Paper from $44.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. UBS Group dropped their price target on International Paper from $40.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. Zacks Research lowered International Paper from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 23rd. Stifel Nicolaus dropped their price target on International Paper from $51.80 to $50.70 and set a "buy" rating on the stock in a research note on Monday, February 9th. Finally, BNP Paribas Exane dropped their price target on International Paper from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, International Paper currently has an average rating of "Moderate Buy" and an average target price of $43.73.

International Paper Price Performance

Shares of NYSE:IP opened at $33.00 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. International Paper Company has a twelve month low of $29.45 and a twelve month high of $56.13. The stock's 50 day moving average is $36.51 and its 200-day moving average is $39.74. The firm has a market capitalization of $17.47 billion, a price-to-earnings ratio of -5.19 and a beta of 0.93.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $0.17 earnings per share. International Paper's revenue for the quarter was up 13.4% compared to the same quarter last year. Sell-side analysts forecast that International Paper Company will post 1.43 EPS for the current fiscal year.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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